December 10, 2023

Repo Buzz

Collateral Recovery Repossession News And Directory


Another example of industry cooperation in the repossession world came to light on Wednesday.

Consolidated Asset Recovery Systems (CARS) announced that the forwarding company has integrated its IBEAM repossession and remarketing compliance portal with the Clearplan dashboard used by repossession agents to manage work assignments from their vehicles.

CARS explained its real-time connectivity can streamline communications and improve compliance with service-level agreements and regulations related to repossession tasks performed in the field. The IBEAM open architecture along with Clearplan’s technology can provide agents the ability to aggregate work from multiple forwarders and finance companies, eliminating much of the cutting and pasting of data that occurs between the disparate systems in use today.

In addition, CARS noted the open stance of these products can allow both agents and finance companies to share information from a variety of legacy systems.

CARS insisted that IBEAM has become widely accepted as the platform for many finance companies that work with more than one forwarding company. The IBEAM portal can enable finance companies to manage both their repossession and remarketing needs in a single platform providing transparency throughout the entire workflow, creating significant opportunities to enhance portfolio performance, control cost and assure compliance for all tasks.

“We realized that Clearplan provides similar benefits to Repossession agents in that it streamlines task, reduces redundant data entry, offering lower operating cost and enhanced compliance through improved real-time infield communications. Because of this, it was a clear fit for a partnership between our two companies,” said Terry Groves, senior vice president for Consolidated Asset Recovery Systems.

Clearplan founder Justin Zane added, “The IBEAM technology has a large footprint in the Repossession industry and provides flexibility in how it is deployed working seamlessly with core business systems.

“This along with the 700-plus certified agents that receive assignments from their technology provided an opportunity for us to improve efficiencies on a large scale and quickly deploy Clearplan and its benefits to many of the top repossession companies in the industry,” Zane went on to say. “We continue to see market acceptance of our agent dashboard and the integration with Consolidated is a significant endorsement.”

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